Because it would be extremely beneficial if they DID release the backend. Possibly world changing for adoption if you could implement Phoenix backend to many different UI frontends, decentralize the providers and fee structures.

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of course

why was it not released before tho?

Money, for sure, but if they are willing to abandon that for the whole US market, then let it fly loose

that kinda assumes a lot about where they got their funding from

I'm just hoping for the best, I'm not gonna shit on them for running a business how they want. Crossing my fingers for a based turnaround.